Li Lin, founder of Huobi exchange and chairman of Avenir Capital, is preparing to establish a $1 billion digital asset trust with leading Asian Ethereum investors.
According to sources, the new trust will focus on Ethereum (ETH) purchases and aims to offer a regulated investment vehicle to institutional investors.
Alongside Lin, the project also includes early Chinese crypto pioneers such as Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, and Meitu Inc. founder Cai Wensheng. The team plans to acquire a Nasdaq-listed shell company to facilitate the structure, according to the sources.
Approximately $1 billion in total funding has been raised, with $200 million reportedly coming from Li Lin’s Avenir Capital and $500 million from Asian-based institutional investors like HongShan Capital Group. Discussions are ongoing, and plan details are subject to change.
The new fund aims to offer regulated investment in Ethereum and related assets, amid growing demand for institutional access to digital assets following the surge in interest in Bitcoin ETFs in the U.S. A formal announcement of the trust is expected within the next two to three weeks.
Li Lin sold Huobi, which he founded in 2013, to Justin Sun after China’s 2021 cryptocurrency ban and later founded Hong Kong-based investment firm Avenir Capital. Avenir is now one of the largest Bitcoin ETF investors in Asia and manages over $1 billion in assets.
Shen Bo, Xiao Feng, and Cai Wensheng, who were among the early supporters of Ethereum, have been shaping the new investment strategies of Chinese crypto elites by turning to offshore and regulated investment vehicles in recent years.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/chinese-exchange-founder-announces-1-billion-ethereum-eth-investment/
